RE: RE: RE: RE: Growth rates in AsiaIm guessing AME/KGHM will move very quickly to production but you wouldnt know it by the long delayed announcement of the final agreement, excell/pooler understand building large scale projects and KGHM can pay for it from petty cash, unless they run into permitting problems (I dont expect any but who knows)
I think youre right about IVN, it will impact world supply, I think there will be at least 2 and possibly 3 world class mines in the OT camp that will be as large as the current planned mine, thats a lot of copper/gold but itll get gobbled up by china, you shold look at ETG which has a strong position around OT and it hasnt moved like IVN yet
lots of other large copper projects but theyre all getting harder to build and operate so cost per lb of copper will increase significantly, also the middle class growth in china/india/brazil/etc are unpredendented in history which should mean this current bull market for metals will last longer than a normal up cycle, theres a lot of time for ajax to enjoy very high copper prices and because it will be a low cost producer itll still be a money maker when the metals cycle turns back down and copper prices revert to a new low price (which will still seem high compared to the low prices in the 80s/90s)
one of the lessons AME taught me was to move further up the food chain, new companies I invest in are producers or near term producers, no more exploration and early development projects, too much risk
but I still hold BAJ from the old days and its one I dont plan to sell, the economics are too strong and if they can build the plant to match the prototype it will be a huge cash cow, I think the huge volume/crosses clearly indicate someone is getting the shareholdings in order before they launch construction
Im getting very nervous about the markets, base metals may have gotten a little ahead of themselves, gold has been on a tear, its a great time to be a metals/mining investors, almost reminds of those heady days back in 2005/2006 and early 2007, easy money but it sure fell hard